NetScout Systems (NASDAQ:NTCT) Stock Price Up 1.7% – Here’s Why

Shares of NetScout Systems, Inc. (NASDAQ:NTCT) traded up 1.7% during mid-day trading on Wednesday . The company traded as high as $21.42 and last traded at $21.49. 32,925 shares changed hands during trading, a decline of 93% from the average session volume of 503,348 shares. The stock had previously closed at $21.14.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their target price on shares of NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st.

NetScout Systems Price Performance

The company has a fifty day moving average price of $22.72 and a two-hundred day moving average price of $21.87. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -3.60 and a beta of 0.64.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. As a group, equities research analysts anticipate that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

Insider Transactions at NetScout Systems

In related news, COO Michael Szabados sold 6,500 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total transaction of $152,555.00. Following the completion of the sale, the chief operating officer now owns 35,989 shares in the company, valued at $844,661.83. This trade represents a 15.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total transaction of $72,750.00. Following the transaction, the executive vice president now directly owns 130,352 shares of the company’s stock, valued at $3,161,036. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,499 shares of company stock valued at $512,321. Corporate insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On NetScout Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of NetScout Systems by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 9,353,501 shares of the technology company’s stock worth $202,597,000 after purchasing an additional 64,475 shares during the last quarter. Legal & General Group Plc lifted its position in NetScout Systems by 12.2% during the 4th quarter. Legal & General Group Plc now owns 4,118,267 shares of the technology company’s stock worth $89,202,000 after buying an additional 448,537 shares in the last quarter. State Street Corp grew its holdings in NetScout Systems by 3.7% during the 3rd quarter. State Street Corp now owns 3,098,279 shares of the technology company’s stock worth $67,388,000 after acquiring an additional 109,569 shares during the last quarter. Pacer Advisors Inc. increased its position in NetScout Systems by 224,935.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,056,827 shares of the technology company’s stock valued at $44,736,000 after acquiring an additional 2,055,913 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of NetScout Systems by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,959,996 shares of the technology company’s stock worth $42,463,000 after acquiring an additional 30,445 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

About NetScout Systems

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.